Section 855 — Income Tax Assessment Act 1997 (Cth)

A foreign resident can disregard a capital gain or loss unless the relevant CGT asset is a direct or indirect interest in Australian real property, or relates to a business carried on by the foreign resident through a permanent establishment in Australia.

Special rules apply for individuals who were Australian residents but have become foreign residents (see also Subdivision 104‑I) and for foreign resident beneficiaries of fixed trusts.

There are also rules dealing with what happens when a foreign resident becomes an Australian resident.

Related sections

• s 832 — ‑1  What this Division is about
• s 840 — ‑1  What this Division is about
• s 842 — ‑100  What this Subdivision is about
• s 880 — ‑10  What this Subdivision is about
• s 900 — ‑1  What this Division is about
• s 905 — ‑5  Application of the Criminal Code

Research how courts apply s 855

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.